How Oil Trends are broken

image.thumb.png.4580bc06e0e6f30b8c8eb0c5c3af64e4.png

Here is a simple chart that shows the low made was made at about $72. It also shows the Trend line from the highs of 75s.

Notice each high is a lower high. So right now Bulls are still unaware since $72 has not been broken so they feel safe in their $85 bullish predictions. So this Trend line is just a warning to what is about to happen. When the break happens prices can hit $71 in no time , and then once bulls get stopped out, they may go long at lower prices again, taking another big risk, but that lets shorts pile up at better prices. Again i have simplified the chart as much as I could. Now where could i be wrong, well if price do go above the TL, and stay there, I will admit defeat. The above is just my opinion, please don't take this as advise. I am not an adviser and am not affiliated with any co.

  • Like 1

Share this post


Link to post
Share on other sites
Sign in to follow this  
Followers 0